Css LLC Il Increases Stock Position in TD SYNNEX Co. (NYSE:SNX)

Css LLC Il lifted its stake in TD SYNNEX Co. (NYSE:SNX) by 11.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,896 shares of the business services provider’s stock after acquiring an additional 1,250 shares during the quarter. Css LLC Il’s holdings in TD SYNNEX were worth $1,395,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. JPMorgan Chase & Co. raised its stake in TD SYNNEX by 37.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,012,219 shares of the business services provider’s stock valued at $361,707,000 after buying an additional 813,634 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of TD SYNNEX in the fourth quarter worth $2,260,000. Ritholtz Wealth Management increased its position in TD SYNNEX by 10.6% during the fourth quarter. Ritholtz Wealth Management now owns 2,519 shares of the business services provider’s stock valued at $295,000 after acquiring an additional 241 shares during the last quarter. HB Wealth Management LLC bought a new position in TD SYNNEX in the fourth quarter valued at about $279,000. Finally, UMB Bank n.a. lifted its holdings in TD SYNNEX by 48.4% in the fourth quarter. UMB Bank n.a. now owns 429 shares of the business services provider’s stock valued at $50,000 after acquiring an additional 140 shares during the period. 84.00% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other TD SYNNEX news, CFO Marshall Witt sold 1,510 shares of TD SYNNEX stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $128.08, for a total value of $193,400.80. Following the sale, the chief financial officer now directly owns 49,843 shares in the company, valued at approximately $6,383,891.44. The trade was a 2.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Miriam Anne Murphy sold 3,000 shares of the business’s stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $110.00, for a total transaction of $330,000.00. Following the completion of the sale, the insider now owns 14,883 shares in the company, valued at approximately $1,637,130. The trade was a 16.78% decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,510 shares of company stock worth $3,241,001 in the last three months. 1.00% of the stock is owned by company insiders.

TD SYNNEX Stock Performance

Shares of NYSE SNX opened at $124.26 on Wednesday. The stock has a market cap of $10.43 billion, a PE ratio of 15.61, a price-to-earnings-growth ratio of 1.06 and a beta of 1.33. TD SYNNEX Co. has a 1 year low of $92.23 and a 1 year high of $145.10. The firm has a fifty day moving average price of $113.23 and a 200-day moving average price of $123.35. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.24 and a quick ratio of 0.76.

TD SYNNEX (NYSE:SNX) last issued its quarterly earnings results on Thursday, March 27th. The business services provider reported $2.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.87 by ($0.07). TD SYNNEX had a return on equity of 11.91% and a net margin of 1.18%. The business had revenue of $14.53 billion during the quarter, compared to analysts’ expectations of $14.79 billion. During the same quarter in the previous year, the company posted $2.99 EPS. The company’s quarterly revenue was up 4.0% on a year-over-year basis. Equities analysts anticipate that TD SYNNEX Co. will post 11.88 earnings per share for the current fiscal year.

TD SYNNEX Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 25th. Investors of record on Friday, April 11th were issued a $0.44 dividend. The ex-dividend date of this dividend was Friday, April 11th. This represents a $1.76 dividend on an annualized basis and a yield of 1.42%. TD SYNNEX’s dividend payout ratio is presently 21.97%.

Wall Street Analyst Weigh In

SNX has been the subject of several research reports. Royal Bank of Canada reduced their price target on shares of TD SYNNEX from $165.00 to $145.00 and set an “outperform” rating for the company in a research report on Friday, April 11th. JPMorgan Chase & Co. cut their target price on shares of TD SYNNEX from $125.00 to $120.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. Cfra decreased their price target on shares of TD SYNNEX from $147.00 to $132.00 and set a “buy” rating on the stock in a research report on Friday, March 28th. UBS Group cut their price objective on shares of TD SYNNEX from $150.00 to $138.00 and set a “buy” rating for the company in a research report on Friday, March 28th. Finally, StockNews.com lowered TD SYNNEX from a “buy” rating to a “hold” rating in a research note on Wednesday, March 26th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $137.22.

TD SYNNEX Profile

TD SYNNEX Corporation operates as a distributor and solutions aggregator for the information technology (IT) ecosystem. The company offers personal computing devices and peripherals, mobile phones and accessories, printers, supplies, and endpoint technology software; and data center technologies, such as hybrid cloud, security, storage, networking, servers, technology software, and converged and hyper-converged infrastructure, as well as computing components.